Draft: Decentralising Freicoin Alliance / Freicoin Foundation

[Arcurus 331]

Hi All,

here are some ideas how we could decentralize the Freicoin Alliance / Freicoin Foundation. Currently the ideas are in a very early draft state, so please feel free to participate:

UPDATE:

Are more updated suggestion you can find here:

 

[Arcurus 331]

Finally here now the first draft for decentralizing the coin issuing / freicoin foundation:

This draft has mainly two parts. The first part is how to improve the network security and on the same time reduce the problem that miners could block votes for the coin issuing through using an Proof of Work (POW) Proof of Stake (POS) combination. The second part is about how on this fundament a decentralized coin issuing could look like.

As alway feel free to comment! 

 

POW + POS example:

20% of the transaction fee plus demurrage goes to proof of work block creators at max (this number is not be set in stone and could be reduced if the blockchain is successfully secured with other methods).

20% goes to proof of stake voters

60% is assigned to projects according to the proof of stake votes

 

Introducing coin voting:

- in each block 8 stakeholders are chosen, the more stake the more likely they are chosen through using the proof of work hash

- all non distributed foundation coins and all non distributed demurraged coins are called not yet distributed coins

- not yet distributed coins are not considered as distributed and therefore do not take part in voting

- optional: addresses with less than 1 coin are not considered in the voting (to remove dust in the unspent set that is relevant for consensus)

- optional: not moved coins for one month are not considered in the voting if they didn't sign at least one stake transaction in the last month  

 

Introducing Stake Transaction:

- each chosen stakeholder can create a so called ¨stake¨ transaction

- each stake transaction must link to one block and can only be included in the next block after this linked block

- for each included stake transaction the difficulty target of this block is reduced by 5% (10% if not using prof of member, see other post below)

- coins to distribute in this block are the transaction fees plus the demurraged coins plus the not yet distributed coins

- coins to distribute are maximal 5 times the demurraged coins plus the transaction fees

- each stake transaction gets  2.5% of the coins to distribute in this block (therefore in total max 20% for all stake transactions) 

- the POW block creator gets allways 20% of the fees + 20% of the coins to distribute in this block 

- all not claimed coins to distribute are added to the not yet distributed coins

 

Decentralized POS based coin issuing:

- each stake transaction can assign up to 2.5% (7.5% if not using prof of member) of the coins to distribute to a project address (therefore in total max 20% for all stake transactions / 60% if not using proof of member) 

- these coins are called project coins

 

Voting for White Listed addresses:

- payouts to projects are done after one day

- each stake transaction can vote negative for one project address

- the payout amount of a negative voted project address is reduced by the payout amount of the stake transaction that is voting negative for this project address

- optional: each stake transaction can additionally also vote to undo a negative vote. Undo votes can be given also in advance.

Example: With undo votes it will need 2/3 of the voters to suppress 1/3 of the voters

[Skaro 129]

Hein?

[Arcurus 331]

6 hours ago, Skaro said:

Hein?

Hein?

[Arcurus 331]

Here a draft that includes also a dividend (basic income) to all members (I like the distribution, because it has the golden distribution rule 1 / 5):

 

POW + POS + POM (proof of member) example:

Transaction fees plus demurrage coins plus not yet distributed coins are distributed the following way:

20% goes to proof of work block creators at max (this number is not set in stone and could be reduced if the blockchain is successfully secured with other methods).

20% goes to stake voters

20% goes to member voters

20% is assigned to projects according to the stake votes

20% is assigned to projects according to the member votes

 

Introducing proof of member:

- in each block 8 member groups  from a so called ¨members group list¨ are chosen through using the proof of work hash

 

Introducing Member Transactions:

- member transactions are handled similar to stake transactions (see above post)

- each stake or member transaction must link to one block and can only be included in the next block after the linked block

- for each included stake or member transaction the difficulty target of this block is reduced by 5% 

Example: If a block includes all possible 16 stake / member transactions the difficulty of this block is reduced by 16 * 5% = 80% 

- each stake or member transaction gets  2.5% of the coins to distribute in this block (in total max 20% for all stake transactions and 20% for all member transactions)

- each stake or member transaction can assign up to 2.5% of the coins to distribute to a project address (therefore in total max 40% of the issued coins) 
 

Introducing Member groups:

- member groups have a member count that indicates how many members this group has

- a single member is simply a member group with the count 1

Example: a member group with a member count of 10 has 10 times the chance to be chosen for creating an member transaction then a single member has

 

Introducing Member Group List:

- each stake or member transaction can vote for a member groups 

- each stake or member transaction can vote against a member group

- an member group becomes added to the member list if it has at least 16 positive votes and at least 2/3 positive votes 

- an member group becomes removed from the member list if it has at least 2/3 negative votes 

- optional: after one year a member group must be again approved or the member count is halved (rounded down)

- optional: for each added member the average payout* per member for one month must be paid as fee

Example: average payout for one month = 20% of the demurrage of this month / member count